NRG considers selling Gladstone power station


NRG is reviewing whether to sell or hold onto its share of Gladstone Power Station.

Looking to strengthen its position in the Australian energy market, NRG has started a six-month review process of assets in Australia.

General Manager of Business Services based in Adelaide, Peter Georgaris said a review was under way.

'We are now commencing a six-month process of a strategic review of NRG in Australia,' Mr Georgaris said.

NRG is considering joining forces with another generation company or generation-short retail company to increase its scale and diversity of assets.

One option available is to sell current assets such as Gladstone to a company which may realise its considerable value.

NRG has 37 per cent ownership of the Gladstone Power Station, but has 100 per cent operations control.

NRG Energy Incorporated has a diverse portfolio of power-generating facilities in several countries, located primarily in the northeast, south, central and western regions of the United States.

NRG also has ownership interests in generating facilities in Australia and Germany.

The review process is expected to take the first six months of 2006.

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